NanoViricides Assigned $5 Million in FY08 Defense Authorization Bill

WEST HAVEN, CT | Posted on June 5th, 2007

The new spending authority Defense authorization bill now making its way through Congress designates $5 million for Connecticut-based NanoViricides, Inc.'s antiviral research, according to an announcement by Senator Joeseph Lieberman.

The funding is designed to explore treatment for dengue fever, an often deadly mosquito-born disease.

"This is a disease that is dangerous for anyone, but can be particularly detrimental to deployed military units," said NanoViricides' CEO Eugene Seymour, MD, MPH. "We are developing type-specific as well as broad-spectrum nanoviricides against dengue viruses in collaboration with the Walter Reed Army Institute of Research (WRAIR). This funding will be instrumental in supporting our activities." In April, NanoViricides signed a cooperative research and development agreement (CRADA) with the Walter Reed Army Institute of Research to work on dengue fever treatments.

The first attack of dengue fever is not deadly. A second attack from a different dengue virus type can lead to dengue hemorrhagic fever (DHF). DHF has a fatality rate of about 15% in the Americas, according to the Pan American Health Organization (PAHO) statistics in 2007. It is estimated that there are over 100 million cases of dengue fever and 500,000 cases of DHF worldwide each year, according to the Centers for Disease Control and Prevention (CDC).

There is currently no vaccine or effective treatment for dengue.

"We have asked our brave men and women in the armed services to make the greatest sacrifices in service to this nation," Lieberman said in a statement announcing the defense authorizations, adding further, "Providing them with effective protections on the ground and in the air is the very least we can do."

NanoViricides thanks Senator Lieberman for his leadership as well as Senator Dodd along with other members of the Senate Armed Services Committee for their support in acknowledging the groundbreaking potential of our technologies.

There can be no assurance that this research and development effort may ever lead to the development of a nanopharmaceutical product approved for commercial resale or that, if approved, a commercial market will develop for our products.

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About NanoViricidesNanoViricides, Inc. (Pink Sheets: NNVC) is a development stage company that is creating special purpose nanomaterials for viral therapy. Certain statements in this release, and other written or oral statements made by NanoViricides, Inc. are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward looking statements are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements of the company to be different from those expressed or implied including the success of the Company's research and development strategy, the availability of adequate financing, the successful and timely completion of clinical studies and the uncertainties related to the regulatory process, described in the “Management’s Discussion and Analysis” section of the Company’s Form 10-KSB and other reports and filings with the Securities and Exchange Commission.